Brokerages Set Tesoro Corp. (TSO) Target Price at $101.20
Shares of Tesoro Corp. (NYSE:TSO) have received an average rating of “Buy” from the twenty ratings firms that are currently covering the company. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $101.20.
A number of brokerages have recently issued reports on TSO. Credit Suisse Group AG reiterated a “buy” rating and set a $100.00 price target on shares of Tesoro Corp. in a research note on Tuesday, November 8th. Citigroup Inc. boosted their price target on shares of Tesoro Corp. from $92.00 to $102.00 and gave the stock a “buy” rating in a research note on Wednesday, October 19th. Jefferies Group set a $98.00 price target on shares of Tesoro Corp. and gave the stock a “buy” rating in a research note on Saturday, October 15th. Barclays PLC reiterated an “overweight” rating and set a $105.00 price target (up from $100.00) on shares of Tesoro Corp. in a research note on Monday, October 10th. Finally, Vetr upgraded shares of Tesoro Corp. from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 28th.
In related news, CFO Steven Sterin purchased 1,100 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The stock was purchased at an average price of $73.93 per share, with a total value of $81,323.00. Following the completion of the transaction, the chief financial officer now owns 8,152 shares of the company’s stock, valued at approximately $602,677.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.88% of the company’s stock.
A number of institutional investors have recently modified their holdings of TSO. Breton Hill Capital Ltd. raised its position in shares of Tesoro Corp. by 9.6% in the second quarter. Breton Hill Capital Ltd. now owns 11,680 shares of the company’s stock valued at $875,000 after buying an additional 1,023 shares during the period. Creative Planning raised its position in shares of Tesoro Corp. by 10.4% in the second quarter. Creative Planning now owns 29,598 shares of the company’s stock valued at $2,218,000 after buying an additional 2,788 shares during the period. Chevy Chase Trust Holdings Inc. raised its stake in Tesoro Corp. by 2.0% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 103,327 shares of the company’s stock valued at $7,741,000 after buying an additional 2,022 shares during the last quarter. Exxonmobil Investment Management Inc. TX raised its stake in Tesoro Corp. by 6.9% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 31,057 shares of the company’s stock valued at $2,327,000 after buying an additional 2,010 shares during the last quarter. Finally, Daiwa SB Investments Ltd. raised its stake in Tesoro Corp. by 8.0% in the second quarter. Daiwa SB Investments Ltd. now owns 1,620 shares of the company’s stock valued at $122,000 after buying an additional 120 shares during the last quarter. 88.53% of the stock is owned by hedge funds and other institutional investors.
Shares of Tesoro Corp. (NYSE:TSO) opened at 83.22 on Tuesday. Tesoro Corp. has a 12-month low of $67.80 and a 12-month high of $119.67. The firm has a market cap of $9.84 billion, a P/E ratio of 14.12 and a beta of 1.77. The firm has a 50-day moving average of $81.63 and a 200-day moving average of $78.30.
Tesoro Corp. (NYSE:TSO) last issued its quarterly earnings results on Monday, October 31st. The company reported $1.43 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.43. Tesoro Corp. had a net margin of 2.93% and a return on equity of 11.99%. The business had revenue of $6.54 billion for the quarter, compared to analyst estimates of $6.82 billion. During the same period in the previous year, the business posted $6.13 earnings per share. The business’s revenue was down 15.5% compared to the same quarter last year. On average, equities analysts forecast that Tesoro Corp. will post $5.01 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Monday, November 28th. Tesoro Corp.’s dividend payout ratio (DPR) is 37.23%.
Tesoro Corp. Company Profile
Tesoro Corporation (Tesoro) is an independent petroleum refining and marketing company. The Company operates through three business segments: Refining operating segment (Refining), which owns and operates refineries, and refines crude oil and other feedstocks into transportation fuels; TLLP, a publicly traded limited partnership, which includes certain crude oil and natural gas gathering assets, natural gas processing and crude oil and refined products terminaling, and transportation and storage assets, and marketing segment (Marketing), which sells transportation fuels.
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